The Department of Trade and Industry said that only a total of $88 million or around P4,830,540,000 has materialized thus far from the investment pledges made from the foreign trips of President Ferdinand Marcos Jr. | JMangaluzINQ
According to Pascual, however, there is still $70-billion worth of investment pending to be materialized.
“It’s not so large as yet, but the potential is as we announced before, we have a pipeline that we were able to build up amounting to around $ 70 billion,” said Pasual. The DTI chief said that the $88 million came from six projects alone, all of which have commenced. Pascual, however, withheld other details, saying that it remains confidential.“It is crucial to emphasize that significant investments take time to implement and their benefit to the country is also long-term. So, it takes time to solicit, implement and to operate a business but the moment they are here, they are here to stay,” said Pascual.
“Given the reality that not all leads may materialize, I would like to reiterate that the reality of life is that not all leads will materialize. We must sustain our efforts therefore to generate investment leads to achieve our desired level of investments over the long time going forward. Just like in any business, the selling job does not stop,” he added.
According to the Presidential Communications Office, Marcos’ trips from the beginning of his term to February 2023 included the following countries, with their respective pledges:United States – US$3.847 billion Japan – US$13 billion
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